MADDELIN
ActiveMADDELIN has been active since 1988 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show negative equity (€-41k) and a net result of €-83k. Equity is shrinking by ~15.9% per year across the filed fiscal years. Its solvency ranks better than 16% of 2544 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 0.3% (very low).
Checked score
Score 2025
42
/ 100
Weak
The score weighs solvency, liquidity, profitability and financial development. Bankruptcy probability contributes 35%. Every signal that weighs is under Signals.
Axes · tick = 2024
Profitability12▼-10
Solvency22▼-6
Growth32=
Track record100
Bankruptcy probability, 12 months
0.3%
Very low
0%0.5%1.5%4%10%≥ 25%
No credit on open account
Liquidity ample (current ratio 2.32 against 2.62 in 2024; short-term debt: 33.6% and cash: 1.1% of total assets), but equity is negative.
Credit advice for your own amount and term
Signals
Eight signals. The signal on the left, the evidence on the right.
−lowers risk+raises risk○neutral
lowers risk · Long track record
A company with a long track record statistically fails less often than a young one.
KBO · incorporation dateAge against the risk zone
raises risk · Annual accounts: weaker financial profile
The latest annual accounts show a weaker profile in solvency, result or liquidity than companies that stay afloat.
NBB · annual accounts 2025Solvency, return and age of the figures
Solvency
-3.3%
Return on assets
-6.8%
Age of the figures
15 mo
lowers risk · Lower-failure-rate sector
In this sector companies fail less often than the Belgian average.
Gazette · bankruptcies per sector, NACE 95
Relative position
BE, all sectors
reference
Sector 95
lower
← fewer bankruptcies
more bankruptcies →
raises risk · Negative equity
The 2025 annual accounts show negative equity and a net loss.
NBB · annual accounts 2025Equity per financial year
1819202122232425
2018 to 2025 · latest year €-41k
neutral · Latest accounts filed on time
The financial year that closed on 30-06-2025 was due by 31-01-2026 and was filed on 30-01-2026, 1 day ahead of the deadline.
NBB · 10 filingsDeviation from the deadline
2025
1 d early
2024
on the day
2023
on the day
2022
on the day
2021
41 d early
2020
38 d early
2019
31 d early
← before the deadline
after the deadline →
neutral · The next deadline is still running
The next financial year closes on 30-06-2026 and is due by 31-01-2027. Nothing is late today.
Companies Code · seven monthsPosition in the running window
30-06-2026 close23-09-2026 today31-01-2027 deadline
Financials · fiscal year 2025, micro schema
Turnover
€1.10M
EBIT margin
0.3%
Net result
€-83k▼ 14.5%
2024 · €-73k
2018: €-10k
2019: €8k
2020: €22k
2021: €-21k
2022: €-21k
2023: €-10k
2024: €-73k
2018 → 2025
Working capital
€544k▼ 16.5%
2024 · €651k
2018: €669k
2019: €642k
2020: €648k
2021: €615k
2022: €594k
2023: €648k
2024: €651k
2018 → 2025
Multi-year overview
Every figure with its change against the year before
▲ rise
▼ fall
Line20212022202320242025Trend
Turnover€1.10M
Equity€147k-€125k▼ 14.5%€115k▼ 8.1%€43k▼ 63.1%€-41k
Operating result€-22k-€3k€-8k€-18k▼ 133%€-88k▼ 393%
Net result€-21k-€-21k=€-10k▲ 52.2%€-73k▼ 616%€-83k▼ 14.5%
Turnover and EBIT margin not published: the micro schema does not require them.
Result per fiscal year
Operating resultNet result
The operating result stays negative: a loss of €88k in 2025 against €18k in 2024; the loss grows and 2025 has the lowest result in the available series.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €1.23M
Fixed assets
€271k▼ 18.7%
Current assets
€956k▼ 9.3%
Key figures and ratios
EBITDA
€6k▼
2024 · €74k
Cash flow
€11k▼
2024 · €19k
Solvency
-3.3%▼
2024 · 3.1%
Current ratio
2.32▼
2024 · 2.62
Quick ratio
0.13▲
2024 · 0.12
Debt / equity
-31.16▼
2024 · 31.63
ROA
-6.8%▼
2024 · -5.2%
Interest coverage
0.18▼
2024 · 1.22
Debt
€1.27M▼
2024 · €1.35M
Debt ≤ 1 year
€412k▲
2024 · €403k
Debt > 1 year
€856k▼
2024 · €943k
Income taxes
€349▲
2024 · €293
Staff costs
€70k▼
2024 · €75k
Green means a favourable move, even when the figure itself falls: as with debt or debt / equity.
Filed annual accounts
As filed with the NBB · 2025 against 2024
Balance sheet
Code20242025
Assets
Total assets20/58€1.39M€1.23M▼
Fixed assets21/28€334k€271k▼
Tangible fixed assets22/27€334k€271k▼
Land and buildings22€4k€4k=
Plant, machinery and equipment23€75k€52k▼
Furniture and vehicles24€68k€69k▲
Leasing and similar rights25€137k€111k▼
Other tangible fixed assets26€49k€34k▼
Current assets29/58€1.05M€956k▼
Stocks and contracts in progress3€1.01M€901k▼
Stocks30/36€1.01M€901k▼
Amounts receivable within one year40/41€33k€35k▲
Trade receivables40€32k€34k▲
Other amounts receivable41€1k€583▼
Cash at bank and in hand54/58€4k€13k▲
Deferred charges and accrued income490/1€10k€7k▼
Equity and liabilities
Total equity and liabilities10/49€1.39M€1.23M▼
Equity10/15€43k€-41k▼
Contributions10/11€212k€212k=
Capital10€212k€212k=
Issued capital100€212k€212k=
Reserves13€9k€9k=
Non-distributable reserves130/1€2k€2k=
Legal reserve130€2k€2k=
Tax-exempt reserves132€7k€7k=
Profit (loss) carried forward14€-178k€-262k▼
Amounts payable17/49€1.35M€1.27M▼
Amounts payable after more than one year17€943k€856k▼
Financial debts170/4€89k€63k▼
Other amounts payable178/9€854k€793k▼
Amounts payable within one year42/48€403k€412k▲
Current portion of amounts payable after more than one year42€23k€26k▲
Financial debts43€250k€250k=
Credit institutions430/8€250k€250k=
Trade debts44€87k€81k▼
Suppliers440/4€87k€81k▼
Taxes, remuneration and social security45€34k€36k▲
Taxes450/3€19k€19k▼
Remuneration and social security454/9€15k€17k▲
Other amounts payable47/48€9k€19k▲
Income statement
Code20242025
Remuneration, social security and pensions62€75k€70k▼
Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630€92k€94k▲
Write-downs on stocks, contracts in progress and trade receivables: additions (reversals)631/4-€465
Other operating charges640/8€2k€3k▲
Gross operating margin9900€151k€79k▼
Operating profit (loss)9901€-18k€-88k▼
Financial income75/76B€6k€38k▲
Recurring financial income75€6k€38k▲
Financial charges65/66B€61k€33k▼
Recurring financial charges65€61k€33k▼
Profit (loss) for the period before taxes9903€-72k€-83k▼
Income taxes67/77€293€349▲
Profit (loss) for the period9904€-73k€-83k▼
Profit (loss) for the period to be appropriated9905€-73k€-83k▼
Appropriation of the result
Profit (loss) to be appropriated9906€-178k€-262k▼
Profit (loss) brought forward from the previous period14P€-106k€-178k▼
The notes to these accounts (7 items: statements of assets and debts, cost breakdowns, rights and commitments) are not shown here.
Timeline · acts, filings and financial milestones
Next filing, fiscal year 2026, expected by
2026
30-01
NBB filing
Annual accounts filed
fiscal year 2025 · micro schema
2025
30-06
Financial
Weakest financial yearnet €-83k
Net result drops to €-83k, the lowest in the series.
31-01
NBB filing
Annual accounts filed
fiscal year 2024 · micro schema
2024
31-01
NBB filing
Annual accounts filed
fiscal year 2023 · micro schema
2023
31-01
NBB filing
Annual accounts filed
fiscal year 2022 · micro schema
2021
21-12
NBB filing
Annual accounts filed
fiscal year 2021 · micro schema
23-03
NBB filing
Annual accounts filed
fiscal year 2020 · micro schema
2020
30-09
Financial
Highest result since 2018net €22k ▲159%
Operating result €21k, net result €22k, both a record.
30-09
Financial
Equity above €150kEq €168k ▲14.8%
2 profitable years in a row build equity to €168k.
30-03
NBB filing
Annual accounts filed
fiscal year 2019 · micro schema
2019
30-09
Financial
Back to profitnet €8k
Net result €8k after one loss-making year.
11-03
NBB filing
Annual accounts filed
fiscal year 2018 · micro schema
2018
12-03
NBB filing
Annual accounts filed
fiscal year 2017 · micro schema
2017
31-03
NBB filing
Annual accounts filed
fiscal year 2016 · abbreviated schema
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
Directors · office · real estate
Directors
5 acts for this company are in the Belgian State Gazette, of which we have read 0. We have therefore not extracted its directors from those acts yet.
Location & real-estate footprint
Registered office, Torhout · 1 establishment unit since 2013
Cannot be placed on the map
This address could not be matched to a point in the Belgian address register (BOSA BEST). The address below comes straight from the Crossroads Bank.
Rijksweg 628820 TorhoutGround area
2,548 m²
Building footprint
461 m²
Volume, LiDAR
2,612 m³
Parcel 31523G1227/00F000, Flanders · tallest building 7.6 m, ±2 floors. Linked by address, not a title deed.
1 establishment unit
Ruitersport Maddelin
since 20132.218.951.115
1 parcel
Flanders
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 31523G1227/00F000 | Flanders | 2,548 m² | 1 · 460 m² | 7.6 m · 2 fl. |
Linked by address, not proof of ownership
Methodology
via registered seat: 1
1 of 1 parcel with an exact address match; the rest are indicative.
Linked through address data, this is not proof of ownership.
Recognitions · licences · registrations
Food safety, FASFC
1 siteTorhout2.218.951.115
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Of 7,376 companies in sector 95311 we hold annual accounts for 2,959. 2,031 are within a factor 10 of this equity.See the whole sector
Company data · Crossroads Bank
Identification
Legal formPublic limited company
Founded29-12-1988
Fiscal year end30-06
Activities, NACEBEL
95311General maintenance and repair of cars and light vans (up to 3.5 tonnes)
47639Retail sale of other sporting goods
47640Retail trade
50200
47811Retail sale of cars and light vans (up to 3.5 tonnes)
46423Wholesale of clothing, excluding workwear and underwear
46425Wholesale trade
47300Retail sale of automotive fuel
47721Retail sale of footwear
50103
77110Renting and leasing of cars and light motor vehicles
77120Rental and leasing activities
Sources
Crossroads Bank for EnterprisesNational Bank · 37 filingsAddress and cadastre registers
Data from official sources, last processed on 23-09-2026. Scores and ratios are computed by Checked and are not a credit decision.